NovaStar renames warehouse unit

National Mortgage Professional

Aug 01, 2006

Coastal Equity Partners purchases Solutions FundingMortgagePress.comMortgage bankers, Coastal Equity Partners LLC, Solutions Funding Inc. Coastal Equity Partners LLC has closed on the purchase of Solutions Funding Inc. (SFI) and plans to move its new company's corporate headquarters from Oakbrook Terrace, Ill. to Jacksonville, Fla. Joseph Bryant has been named chairman and CEO of SFI, Dennis Neubert has been named executive vice president and chief risk officer, Michael Celenza has been named East Coast wholesale manager and Adam Reike, former president and CEO, has been named senior vice president and Central and Western wholesale production manager. Tony Krueger will continue with the company as vice president of finance. Solutions Funding Inc. is a mortgage banker based in Oakbrook Terrace, Ill. For more information, call (630) 627-2477 or visit www.sfiwholesale.com. Coastal Equity Partners LLC is an investment house based in southern Florida.

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Aug 01, 2006

Analysis and Data

Mortgage Rates Fall For 3rd Straight Week

The 30-year mortgage dropped to 6.32%, lowest since mid-February.

Amid continued economic unrest, mortgage rates fell for the third consecutive week this week, Freddie Mac said Thursday. According to the government-sponsored enterprise’s Primary Mortgage Market Survey (PMMS), the 30-year, fixed-rate mortgage (FRM) averaged 6.32%, down 10 ...

Regulation and Compliance

Chopra: Nonbanks, Mortgage Servicers May Also Pose Systemic Risk

CFPB director tells Consumer Bankers Association conference such a failure could lead to 'chaos.'

What happens if a nonbank lender or large mortgage servicer fails? That’s a question that recently has been keeping Consumer Financial Protection Bureau Director Rohit Chopra awake at night. "A major disruption or failure of a large mortgage servicer really gives me a night...